NextEra Energy Inc (NEE) Posts Earnings Results, Beats Estimates By $0.24 EPS
NextEra Energy Inc (NYSE:NEE) released its earnings results on Friday. The utilities provider reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.24. NextEra Energy had a net margin of 17.92% and a return on equity of 11.74%. The firm earned $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm earned $1.55 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. NextEra Energy updated its FY17 guidance to $6.35-6.85 EPS and its FY18 guidance to $6.80-7.30 EPS.
NextEra Energy (NYSE:NEE) traded up 1.21% on Friday, reaching $132.46. 1,679,241 shares of the company traded hands. NextEra Energy has a 1-year low of $110.49 and a 1-year high of $134.33. The stock has a market capitalization of $61.94 billion, a price-to-earnings ratio of 21.19 and a beta of 0.23. The stock’s 50-day moving average is $130.45 and its 200-day moving average is $123.33.
A number of research analysts have recently weighed in on NEE shares. Royal Bank of Canada reissued a “buy” rating and set a $142.00 target price on shares of NextEra Energy in a research report on Wednesday, January 4th. Deutsche Bank AG raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a research report on Monday, January 30th. Barclays PLC reissued a “buy” rating and set a $139.00 target price on shares of NextEra Energy in a research report on Sunday, February 19th. Mizuho increased their target price on shares of NextEra Energy from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Monday, March 20th. Finally, BMO Capital Markets reissued a “buy” rating and set a $135.00 target price on shares of NextEra Energy in a research report on Friday, March 31st. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $138.50.
In other news, Director James L. Robo sold 30,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $122.60, for a total value of $3,678,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Miguel Arechabala sold 4,458 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $131.22, for a total transaction of $584,978.76. Following the completion of the transaction, the executive vice president now directly owns 10,844 shares in the company, valued at approximately $1,422,949.68. The disclosure for this sale can be found here. Insiders sold 66,200 shares of company stock worth $8,415,204 in the last three months. Insiders own 0.66% of the company’s stock.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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